DTEK expands 2018 Eurobond issue to USD 750 mln

DTEK (DTEKUA) announced on April 23 that it has floated USD 150 mln in additional notes due 2018 at a coupon of 7.875%, as a supplement to the USD 600 mln in notes issued in April 4 (due 2018, at a coupon of 7.875%). The company will use the proceeds for general corporate purposes, including capital expenditure programs, working capital financing, as well as repayment of debt. With the new funds raised, DTEK will increase its gross debt/EBITDA ratio to about 1.75x vs. 1.36x as of end-2012.